Interest on deposits keeps dropping

The most enticing offers for bank deposits are disappearing as the average interest rates for the best deposits and savings accounts have dropped to the lowest level in nearly a year. In July 2023, the average interest rate for the best deposits and accounts was 6.76%, compared to 7.05% at the end of June. This decline is a result of expected interest rate cuts.

Banks have made various changes to their offers, including withdrawing products with promotional interest rates, reducing offered rates, and shortening the deposit period. The requirements for promotional deposits are becoming more complex, with banks often demanding additional products or services to qualify for higher interest rates.

Source: inwestycje.pl